MetaMask USD vs Tether

Tether (USDT) is 4908.1× the size of MetaMask USD (MUSD) by market capitalisation. Over the past 30 days, MUSD is ahead by 0.0 percentage points (MUSD -0.1% against USDT -0.1%). Their daily returns move very closely together (correlation 0.93 across 36 shared trading days). Both have run at a similar volatility, around 1% annualised.

Correlation: 0.93
Size ratio: 1 : 4908.1
Ahead over 30 days: MUSD

MetaMask USDMUSD

$0.999172

24h: +0.04%
Market cap: $36.31M
Volume 24h: $7.32M
Volatility (ann.): 1%

TetherUSDT

$0.999148

24h: +0.04%
Market cap: $178.22B
Volume 24h: $56.79B
Volatility (ann.): 1%

MUSD 0.0%Share of the two combined market caps100.0% USDT

Performance

MUSDUSDT

7 days+0.03%+0.03%MUSD
30 days-0.05%-0.08%MUSD

Correlation

0.93over 36 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.9390d: insufficient data1y: insufficient data

Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.

Risk & extremes

Metric	MUSD	USDT
Max drawdown (400d)	-0.2%	-0.2%
Risk-adjusted return (90d)	-0.17	-0.03

Relative strength over 90 days: MUSD outperformed USDT by 0.0% — measured on the MUSD/USDT ratio, so it holds regardless of market direction.

MetaMask USD →Tether →